The Nigerian Maritime Administration and Safety Agency (NIMASA), has assured that funds accrued under the Cabotage Vessel Financing Fund (CVFF), currently estimated at N270 billion are intact and currently domiciled at the Central Bank of Nigeria (CBN) under the Single Treasury Account (TSA).
This is contrary to a publication alleging that the funds have disappeared from the CVFF account.
According to the Agency, the report of a missing money is both misleading and false.
A statement signed by the Head, Public Relations of the Agency, Osagie Edward said, “For the records, the Cabotage Vessel Financing Fund, securely held in the NIMASA account at the Central Bank of Nigeria CBN, remains intact. There has been no disappearance of funds, and no illegal transactions, as the article suggests. This misinformation is a figment of the authors imagination, aimed at undermining NIMASA’s integrity, and mislead the public about the Agency’s operations.
According to the statement, the management of NIMASA will ensure that the CVFF is utilised in line with its statutory purpose.
Meanwhile, Director General of NIMASA, Dr Dayo Mobereola has assured stakeholders of the safety of funds under the CVFF.
“Let us be clear that the CVFF account at the Central Bank of Nigeria is safe, intact, and secure. We at NIMASA will continue to manage it with the utmost responsibility, and there are no irregularities or illegal activities surrounding the funds.